Andhra signs Rs 31,546 cr MoUs with Adani, Mytrah, Lulu, others

, ET Bureau|
Updated: Feb 24, 2018, 10.42 PM IST
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The group signed several Memorandums of Understanding (MoUs) with the Andhra Pradesh government on the first day of the three-day event.
Andhra Pradesh government has on the first day of CII Partnership Summit at Visakhapatnam on Saturday signed 77 memoranda of understandings with several large infrastructure, power and automobile firms for investments worth Rs 31,546 crore to provide jobs to nearly one lakh persons.

These include 15 MoUs in automotive, 56 in tourism, 4 in industries and two in infrastructure. While automotive sector agreements were for Rs 15,224 crore, tourism attracted Rs 7,807 crore, industries Rs 3,015 crore and infrastructure Rs 5,500 crore.

Some of the large investors who exchanged agreements at the inaugural day of the Summit include Adani group, Mytrah, Grasim, Essel group, Mahindra Holidays, Lulu and JBM group, among others.

Adani group chairman Gautam Adani has announced setting up a Greenfield seaport and multimodel logistics park at Bhavanapadu in Srikakulam district, 1,000 megawatt of renewable energy units and a battery storage facility, involving Rs 9,000 crore of investments.

Mytrah Mobility will set up an electric vehicles manufacturing facility at around Rs 7,000 crore, while JBM group has agreed to invest Rs 2,650 crore for electrical mobility, solar power generation and auto components.

Dubai’s Lulu group has announced setting up an international convention centre and shopping mall on the beach road of Visakhapatnam at an investment of around Rs 2,000 crore.

Grasim Industries will set up an Rs 2,500 crore Chlor Alkali complex at Kakinada.

While Andhra Pradesh government hopes to sign at least Rs 5 lakh crore worth agreements during this round of CII Partnership Summit, the Andhra Pradesh Economic Development Board is entering into 144 agreements worth Rs 1,42,657 crore, where Vedanta Resources alone will set up Rs 24,000 crore worth projects and India Gas Solutions will invest Rs 40,000 crore to develop gas value chain opportunities and supply of natural gas.

The Andhra Pradesh government has also signed agreement with Google to connect some 30,000 panchayats with 25,000 wifi hotspots.
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